Equipment

Volkswagen

Andreas Renschler, the former head of commercial trucks for Daimler who went to work heading up Volkswagen's commercial truck operations earlier this year, has been appointed as the new chairman of the board of Scania.

Former Daimler Trucks head Andreas Renschler started work this week as head of rival Volkswagen's trucks business, once again creating speculation that VW may look to North American shores as it works toward goals of expanding its global footprint.

In early July, a top Daimler Trucks official told reporters that fellow German company Volkswagen would make a bid to buy American truck maker Paccar. VW denied it the rumor at the time, and now Paccar has come out with a statement as well.

Rumors have been around for a while that Volkswagen will try to buy a U.S. truck maker. Earlier rumors centered on International, but the latest is Paccar, with Reuters running a story Thursday about takeover plans and VW denying it.

The former head of Daimler Trucks, who left the company last month after less than a year of overseeing Mercedes Benz cars and vans at parent company Daimler AG, will be taking over responsibility for commercial vehicles at Volkswagen AG.